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Thursday, March 17, 2016

Update on Base metals 17 Mar 2016






Copper






Support at 332 and Resistance at 339


Two consecutive closes + weekly close above 339 will take to 348---355+ mark in days to come else it could test its support level of 332 again


Further downside panic will see only close below 332 mark


Traders can trade with levels only










Nickel





Support at 570 and Resistance at 585---600


Either side break or close with volume will decide further... Till then traders can trade in a range with levels only and wait for confirmation


Any thing seems will update via App











Aluminium





Support at 101.40 and Resistance at 102.60


Two consecutive closes below 101.40 will take to 100.20---99.60 and then to 98.00 mark in days to come else it could test its resistance level of 102.60 again


Further upside rally will see only close above 102.60


Wait for confirmation











Crude Oil





Clearly indicated to buy Crude oil above 2505 for the upside target of 2550---2580 and then to 2630 mark. Just made a high of 2644


Now what to expect???


Support at 2540 and Resistance at 2650---2730


Now upper side seems limited in Crude oil but trade with levels only. We will expect sharp downside move in Crude oil for next 1-2 trading sessions


Trade safely with levels only... Anything seems will update via App













More will be update soon!!